{"id":6237,"date":"2021-12-21T14:31:09","date_gmt":"2021-12-21T14:31:09","guid":{"rendered":"https:\/\/www.withinnigeria.com\/broadnews\/?p=6237"},"modified":"2021-12-21T14:31:09","modified_gmt":"2021-12-21T14:31:09","slug":"three-federal-ministries-will-benefit-from-2021-sovereign-sukuk-funds-dmo","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/broadnews\/2021\/12\/21\/three-federal-ministries-will-benefit-from-2021-sovereign-sukuk-funds-dmo\/","title":{"rendered":"Three federal ministries will benefit from 2021 sovereign Sukuk funds &#8211; DMO"},"content":{"rendered":"<header class=\"entry-header\">The Debt Management Office (DMO) says its latest offer of N250 billion sovereign Sukuk, the fourth in the series, would be deployed to three benefitting ministries.<\/p>\n<p>This was disclosed on Monday in Abuja by Director-General of the DMO, Patience Oniha at an investor meeting for the 2021 Sukuk .<\/p>\n<p>Oniha said that the proceeds would go into upgrading some roads in the Federal Capital Territory through the FCTA and the Niger Delta through the <a href=\"https:\/\/www.withinnigeria.com\/broadnews\/2021\/12\/05\/youths-from-niger-delta-urge-government-to-ensure-justice-for-late-sylvester-oromoni\/\">Ministry of\u00a0 Niger Delta Affairs.<\/a><\/p>\n<p>However, she added that a chunk of the proceeds would still go into upgrading critical road infrastructure across the country, through the Federal Ministry of Works and Housing.<\/p>\n<p>\u201cThe funds would be used for economic roads identified by the Federal Ministry of Works and Housing,\u00a0 the FCTA and the Ministry of Niger Delta Affairs, \u201d she said.<\/p>\n<p>She urged Nigerians to take advantage of the opportunity to invest in the offer as it guaranteed good return on investment.<\/p>\n<p>Oniha said that the last three Sukuk offers were over subscribed, an indication that the model had become acceptable to Nigerians.<\/p>\n<p>According to Oyeniyi Azeez, Director, Infrastructure Development in the Niger Delta ministry,\u00a0 the proceeds allocated to the ministry would\u00a0 be used to complete portions of the East-West Road, which\u00a0 cuts across the region.<\/p>\n<p>\u201cWe are delighted to be part of this Sukuk funding, \u201d he said.<\/p>\n<p>Mr Yiltong David, Deputy Director, Highway Planning and Development, the Federal Ministry of Works and Housing, said that the Sukuk funds would assist the ministry complete some of its ongoing road projects.<\/p>\n<p>\u201cAbout ten roads will be completed next year.\u00a0 The proceeds of this Sukuk are targeted at roads labelled A1 to A9.<\/p>\n<p>\u201cThe Sukuk funding has been very helpful and if you travel across the country,\u00a0 the results of Sukuk are evident on our roads, \u201d he said.<\/p>\n<p>The News Agency of Nigeria (NAN) reports that the meeting provided an opportunity for interaction between the DMO, its financial advisers, the benefiting federal ministries and the issuing houses.<\/p>\n<\/header>\n","protected":false},"excerpt":{"rendered":"<p>The Debt Management Office (DMO) says its latest offer of N250 billion sovereign Sukuk, the fourth in the series, would be deployed to three benefitting ministries. This was disclosed on Monday in Abuja by Director-General of the DMO, Patience Oniha at an investor meeting for the 2021 Sukuk . Oniha said that the proceeds would [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":6291,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"footnotes":""},"categories":[7],"tags":[1720],"class_list":["post-6237","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","tag-debt-management-office"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Three federal ministries will benefit from 2021 sovereign Sukuk funds - DMO &#187; BROAD NEWS \u2014 WITHIN NIGERIA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.withinnigeria.com\/broadnews\/2021\/12\/21\/three-federal-ministries-will-benefit-from-2021-sovereign-sukuk-funds-dmo\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Three federal ministries will benefit from 2021 sovereign Sukuk funds - DMO\" \/>\n<meta property=\"og:description\" content=\"The Debt Management Office (DMO) says its latest offer of N250 billion sovereign Sukuk, the fourth in the series, would be deployed to three benefitting ministries. 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